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Cutting the paper trail with electronic transactions
Cabinet this week cleared the long pending draft electronic transaction bill, intended to facilitate the use of modern communications and information storage tools in transactions. Cabinet this week cleared the long pending draft electronic transaction bill, intended to facilitate the use of modern communications and information storage tools in transactions. The legislation will create a […]
Fighting cost push inflation with tight monetary policy
The debate over expansionary fiscal policy took a new turn with Finance Minister Sarath Amunugama making apparently contradictory statements in the budget, when defending himself against charges of igniting galloping inflation by printing money. “The Honourable Finance Minister’s statement is what I call an oxymoron,” says Dr. Harsha de Silva, a leading critic of the […]
Adopted Kids
US based AIG Insurance shed its Rs.8.7 billion life portfolio of its Sri Lankan unit to Sri Lanka Insurance, to focus on general business, officials said Friday.US based AIG Insurance shed its Rs. 8.7 billion life portfolio of its Sri Lankan unit to Sri Lanka Insurance, to focus on general business, officials said Friday. Hayleys […]
Presidential Election 2005 : Outcome Revealed
The analysis appearing below is a sequel to the previous three scenario analysis. A re-cap of the three scenarios analyzed previously is as follows.The analysis appearing below is a sequel to the previous three scenario analysis. A re-cap of the three scenarios analyzed previously is as follows. Notation : UNP Candidate = RW UPFA […]
Déjà vu
Operating losses at the Ceylon Electricity Board is threatening to snowball to Rs.18 billion by year end, as costs of generation soar with no new power plants in sight. Operating losses at the Ceylon Electricity Board is threatening to snowball to Rs. 18 billion by year end, as costs of generation soar with no new […]
Kuwait lends US$ 20 mn for post tsunami reconstruction
The Kuwait Fund will lend US$ 20 mn to Sri Lanka to strengthen tertiary education and build administrative infrastructure in tsunami affected areas.The Kuwait Fund will lend US$ 20 mn to Sri Lanka to strengthen tertiary education and build administrative infrastructure in tsunami affected areas. The money will fund construction of educational facilities, student housing […]
Dutch Built
Sri Lanka’s northern most port – Kankesanturai will get a 45 million euro makeover courtesy of the Dutch government.Sri Lanka’s northern most port – Kankesanturai will get a 45 million euro makeover courtesy of the Dutch government. Cabinet spokesperson and Health Minister Nimal Siripala de Silva on Wednesday said the Sri Lankan government agreed to […]
Sri Lanka acts to boost tourism revenue
Faced with a decline in tourist spending, Sri Lanka is trying to shift away from dependence on beach lovers and budget travelers and lure more well-heeled tourists. Faced with a decline in tourist spending, Sri Lanka is trying to shift away from dependence on beach lovers and budget travelers and lure more well-heeled tourists. Hotels […]
Russians are paying more for a good cuppa,
Russians are paying more for a good cuppa, spending an average US$ 1.82 this year, up from US$ 1.69 in 2004. Asia Siyaka Commodity Brokers in its weekly tea report quoted head of the Rusteacoffee industry lobby Ramaz Chanturiya saying that tea consumption in Russia will remain stable in the foreseeable future, but the share […]
Secret Sauce
A US based venture capitalist says Sri Lanka has it own ‘secret sauce’ in the ICT arena and should use that to tap the US$ 100 billion global outsourcing business.A US based venture capitalist says Sri Lanka has it own ‘secret sauce’ in the ICT arena and should use that to tap the US$ 100 […]
Dead End
Sri Lanka on Thursday scrapped plans to allow free incoming calls to mobile phones, despite phenomenon success among its Asian neighbours, the telecom watchdog said.Sri Lanka on Thursday scrapped plans to allow free incoming calls to mobile phones, despite phenomenon success among its Asian neighbours, the telecom watchdog said. Mobile operators have been lobbying for […]
Escape Route
Trying to squirm out of paying mounting subsidy bills, Treasury has told state oil giant Ceypetco that it is liable to pay its claims, only if it declares a loss.Trying to squirm out of paying mounting subsidy bills, Treasury has told state oil giant Ceypetco that it is liable to pay its claims, only if […]